Umicore boosts capacity in cathode materials

NMC is the preferred cathode material technology for rechargeable batteries used in vehicle electrification and global demand is increasing fast. The demand for Umicore’s NMC materials is outpacing the market by a significant margin, a press release states. The investment will also be used to meet growing demand for its proprietary high-energy LCO (lithium cobalt oxide) cathode materials used in consumer electronics. This programme entails further investments in Cheonan (South Korea) and Jiangmen (China) with the first production lines expected to be commissioned in late 2018. Combined with the EUR 160 million investment announced last year, this will result in a more than six-fold increase in total capacity by 2020 compared to the levels of 2015. Marc Grynberg, CEO of Umicore, commented: "The scale and scope of the investments underscore Umicore’s leadership in clean mobility materials and our commitment to support the rapid growth of our customers. It is rewarding that our strategic choices are now starting to bear fruit and we are excited about the prospects for our business."